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The Dollar Is On the Brink': What Role Does Gold Play In the New World Economy?

" is quite apparent that everyone else in the world knows it."

Getty Images.

The Arizona House of Representatives passed a bill Monday making gold and silver legal tender in a move that marks America's growing weariness of the Federal Reserves current monetary policies.

The law also states that, since it will be considered legal tender, gold and silver will not be subject to tax or regulation as property.

“Senate Bill 1439 would let people use the precious metals as money as long as businesses agree to take them. If made law, it would take effect in 2014,” the Associated Press notes, adding that the metals would not have a set monetary value.

On Wednesday evening's broadcast Glenn Beck explored the role precious metals are playing in the new American economy. What's more, he also explained why America's flailing currency signals trouble on the international stage.

"The dollar is on the brink and it is quite apparent that everyone else in the world knows it," Beck explained.

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